[UK session] Euro hit 1.1830, End of Rebound ?
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In my previous analysis of Euro last week, head & shoulder pattern plus bearish AB=CD all points to 1.1830 as a strong resistance level.
U can find that a bullish divergence formed last friday by odd NFP data, then helped us to take profit by long set up these 2 days.
Today price has hit the level temporarily, now wondering between 1.1800-1.1830 to confirm its future direction. Watch out the level and it is not a safe place to trade long from my view, try to buy low instead.
If price successfully stand above, watch 1.1860 or 1.1900 as TP. Price may retest 1.18 level or even lower at around 1.1760.
Or u can regard the market by different session , adjust your idea into different phrases, u can find in my view on Usdollar index posted later this morning.
Be careful that there will be speech from president Trump as well as the release of FOMC minutes, take profit if u don't have confidence before that.
U can find that a bullish divergence formed last friday by odd NFP data, then helped us to take profit by long set up these 2 days.
Today price has hit the level temporarily, now wondering between 1.1800-1.1830 to confirm its future direction. Watch out the level and it is not a safe place to trade long from my view, try to buy low instead.
If price successfully stand above, watch 1.1860 or 1.1900 as TP. Price may retest 1.18 level or even lower at around 1.1760.
Or u can regard the market by different session , adjust your idea into different phrases, u can find in my view on Usdollar index posted later this morning.
Be careful that there will be speech from president Trump as well as the release of FOMC minutes, take profit if u don't have confidence before that.
Nota
Bearish pin par in hourly chart, a fake breakout of 1.1830.Attention to reversal.
Nota
TP1 hit at 1.1850,watch closely to the 1.19 level,potental PRZ
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